Foreign investment attraction delegation, headed by Governor Kim Moon-soo, is visiting Shanghai, China for two days from February 24th to 25th.

Gyeonggi Provincial Government announced on the 18th that the Gyeonggi Provincial delegation comprised of 13 people, including Governor Kim Moon-soo and Gimpo city Mayor Yu Young-lok, will be visiting Shanghai, China to attract foreign investment from ED-SUN Hong Kong Industry Co., Ltd. and visit Shanghai Disneyland.

During the delegation’s visit, an MOU signing ceremony will be held at the Marriott Hotel in Shanghai, China on the 24th for the development of a hotel in Gimpo city with many attendees, including Governor Kim Moon-soo, Gimpo city Mayor Yu Young-lok and the CEO of ED-SUN HONG KONG Sun Tie Lai. 

The investor, ED-SUN Hong Kong, plans to invest US$ 80 million to build a business hotel with approximately 1000 rooms in a site area of 4,557㎡ in the Gimpo Gochon Logistics Complex.

ED-SUN Hong Kong has built and is currently pre-selling the Saint Castle townhouses in Dongtan New City and also has built a hotel in Heilongjiang Province, China.

Kang Hyun-Do, Director of Investment Promotion Division at Gyeonggi Provincial Government, said, “The Gimpo hotel will create around 1000 direct employment, contribute in revitalizing the local economy and help to a certain degree in relieving the shortage of accommodations required to meet the increasing international tourists, especially from China.”

Aside from attracting investment, the delegation also plans to visit Shanghai Disneyland. Shanghai Disneyland is a global theme park which began construction in April 2011 after a 10 year long discussion period. The construction is expected to be completed by the end of 2015.

The Gyeonggi Provincial delegation plans to study the progress of Shanghai Disneyland and the ripple effect it will have once the construction is complete and try to find solutions on how to move the USKR project forward that has been at a standstill for some time.

In addition, the delegation plans to visit Gyeonggi Business Center’s Shanghai branch office and meet local businessmen to find ways to expand economic exchanges between Gyeonggi Province and China. Gyeonggi Province will also look at the remarkable growth of Shanghai city, who is a competitor and a partner at the same time, and benchmark the city when establishing the economic development plans of the province.

Meanwhile, Gyeonggi Province has set it’s foreign investment attraction target amount for this year to US$2.4 billion and has been actively pursuing it’s investment attraction activities from the start of the year. The province plans to continue soliciting foreign investment, targeting the Americas in March and Europe, including Germany and Switzerland, in April.